This morning we announced that LG Electronics is our newest licensing customer, joining a growing list of licensees that includes some of the largest mobile handset manufacturers – HTC, RIM, Samsung, Pantech – and now LG. Today’s deal provides LG with a license to segments of IV’s extensive patent portfolio, which includes more than 35,000 assets in more than 50 technology sectors.
“LG’s patent portfolio is strong and is a critical element to our business strategy,” said Jeong Hwan Lee, executive vice president and head of LG’s Intellectual Property Center. “Our alliance with IV gives us access to patents outside our core and allows us the freedom to focus on what’s important in our industry – constant innovation.”
The agreement also provides LG with access to additional products and services to defend itself from potential litigation, enabling more efficient negotiations to reduce liabilities and achieve favorable licensing terms. In increasingly crowded markets like the mobile communications sector, IV can help companies like LG efficiently access the IP rights they need to stay competitive.
Read the press release for more details.